Topic: How To Invest

Dividend Advisor Hotline – Friday, April 19, 2024

Article Excerpt

J.P. MORGAN CHASE & CO., $185.80, New York symbol JPM, is a buy. Morgan is the largest banking firm in the U.S., with total assets of $4.09 trillion as of March 31, 2024. With the April 30, 2024, payment, Morgan will increase your quarterly dividend by 9.5%, to $1.15 a share from $1.05. The new annual rate of $4.60 yields 2.5%. In May 2023, the bank acquired most of the assets and deposits of failed California-based First Republic Bank for $10.6 billion. The new operations contributed $668 million to Morgan’s earnings in the first quarter of 2024. The banking giant also set aside $1.88 billion to cover potential loan losses in the latest quarter; that’s down 17.2% from $2.28 billion a year earlier. The reduced provisions lifted Morgan’s earnings in the quarter by 6.1%, to $12.94 billion from $12.19 billion a year earlier. Due to fewer shares outstanding, per-share earnings rose at a faster rate of 8.3%, to $4.44 from $4.10. Investors should note that Morgan paid…